US: Target axes 150 jobs in restructure
General merchandise retailer Target Corporation has laid off around 150 employees as part of a restructuring of roles and responsibilities at the business.
"As an organisation, we continually assess our operating model, including roles and processes, to ensure we are well-positioned for how our business needs to evolve," Target said in a statement sent to just-style.
"On Wednesday (9 October) we announced changes in a few areas in support of our objective to continue to grow our business profitably while we meet the needs of today's consumers."
These changes, the company said, resulted in shifts in roles and responsibilities in some areas, and the elimination of 150 team member positions.
The retailer declined to say which departments or business functions were impacted.
"While making these kinds of changes is never easy, we are committed to advancing our multichannel capabilities and transforming Target to be competitive well into the future," the statement added.
In August, Target reported a double-digit second-quarter profit dip to US$611m, due to softer than expected sales in the US and start-up costs in Canada.
The company now expects its full-year adjusted earnings per share to be at the lower end of its previous forecast of $4.70-4.90.
A costly data breach incurred a US$17m expense for retail giant Target Corporation in the fourth quarter, but also impacted consumer confidence and traffic....
The US holiday season, typically defined as the period between Thanksgiving and Christmas day, is a key period for retailers, and brings new challenges on a yearly basis. This case study analyzes Targ...
General merchandise retailer Target Corporation is to continue its expansion in Canada by opening another nine stores this year....
"If indigo was invented today, we would never approve it.” Andrew Olah, founder of the Kingpins denim show, and of Olah Inc., a textile marketing, development, and sales agency in the US. Comments...
- Improved supplier capabilities benefit Next
- THE FLANARANT: Understand win-win or lose out
- China and Vietnam lead US apparel imports in July
- Next H1: What the analysts say
- Retailers voice concerns on Scottish independence
- H&M goes green with Conscious Denim
- Brandix selects first "game-changing" innovations
- TPP talks "make progress" but issues remain
- Adidas defends position despite investor unrest
- US cotton production set to decline
- Wool in the 21st Century: new prospects for a familiar fibre
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details